Federation Fears Housing Budget Could Be 'Cut By A Third'

More than 200,000 construction industry jobs could be lost or not created, and 350,000 people added to housing waiting lists under government spending cuts, a campaign group has warned. The National Housing Federation also believes that, under the cuts, £45 billion could be lost to the economy – thus damaging the fragile recovery. The Federation fears that, because ministers are ring-fencing other budgets such as health and overseas aid, the housing budget could be cut by up to 32.6 per cent over the next four financial years. Independent economists at the Institute of Fiscal Studies have said that for the Government to reduce the deficit to the extent promised, areas of spending that are not being protected may have to be cut by a third from 2011/12 to 2014/15. Read the full story on 24dash.